In India a Public Sector Undertaking (PSU) is a government-owned corporation. These companies are owned by the federal Government of India, or one of the many state or territorial governments, or both. The company equity needs to be majority owned by the government to be a PSU. An alternative title for a PSU is a Public Sector Enterprise, where federally owned PSUs are termed Central Public Sector Enterprises (CPSEs) and are administered by the Ministry of Heavy Industries and Public Enterprises.
Benefits of Working in PSU’s
Secure career: Security in career is one of the most sought after needs especially in present times. Recession, the dreaded phenomenon, has opened our eyes to the layoffs that come along with the fancy perks in MNCs. A job in a PSU is free from such vices and ensures peace of mind. You cannot be thrown away just like that.
Attractive packages: The pay scale of PSUs are worth comparable and at times much higher than the private entities. After the implementation of sixth pay commission recommendations, the salaries have increased exponentially. The facilities or the allowances are add-ons. For ex NTPC has offered a package of 9.8 lakh to Graduate Engineer Trainees in 2011. In BHEL the figure was 7.5 lakh for the same post.
Good lifestyle: In PSUs, various programmes like cultural events, festivals, games, etc. are organised from time to time for the employees. During the training, trainees get all kinds of experience right from PT drills to cultural programmes. On the whole the employees get to experience a holistic lifestyle.
Less work pressure: It is an acknowledged fact that the work schedule here is not as demanding and hectic as that of the private companies. However that does not mean it is infested with incompetence. Those who are willing to learn and work hard always get the opportunity.